© Reuters.
By Liz Moyer
Investing.com — Stocks surged on Monday as investors try to put last week’s decline in the rearview mirror, while consumer price data looms on Tuesday. Here are the midday movers for Feb. 13.
- Meta Platforms Inc (NASDAQ:) shares rose 3% after the parent of Facebook and Instagram said its Chief Business Officer Marne Levine would leave in the summer after 13 years at the company. Shares were also moving after a report Meta is preparing another round of layoffs.
- Fastly Inc (NYSE:) shares were up 28% after analysts at BofA upgraded the cloud computing company to a Buy from Underperform and raised their price target to $16 from $10.50.
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Zillow Group (NASDAQ:) (NASDAQ:) shares rose 4.7% after Evercore ISI analysts raised the real estate company to Outperform from Inline, with a price target of $61, up from $34, as the sector is poised to rebound.
- Twilio Inc (NYSE:) shares rose 3% after the cloud communications software company said it would cut 17% of its workforce and reorganize into two units to control spending.
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Fidelity National Information Services Inc (NYSE:) is falling 13.6% after the fintech provided guidance that was below expectations. It forecast first-quarter adjusted EPS of $1.17 to $1.23, while analysts were looking for $1.42.
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